❓ Dr. Steve Thomas questions the Minister regarding additional taxpayer funds provided to the liquidators of Griffin Coal, an insolvent, foreign-owned company. The Minister confirms the funds were provided under an existing agreement but cites commercial sensitivity for withholding details.
AnsweredQoN 1272Legislative Council
Asked
18 October 2023
Member
Portfolio
State and Industry Development, Jobs and Trade
QuestionView source ↗
GRIFFIN COAL —
LIQUIDATOR
1272. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I refer to my question without
notice 1213 of 12 October 2023, which established that $30.5 million of
taxpayers' money had being paid to the receivers and liquidators of the
insolvent Griffin Coal.
(1) Was a financial
assistance agreement, or new, updated so-called process agreement, entered into
for the additional $3.2 million drawdown?
(2) If yes to
(1), on what date was it executed; who were the signatories; and what
conditions were placed on the additional funding being provided?
(3) Is there a cap on the ongoing flow of taxpayers'
money propping up the insolvent, foreign-owned Griffin Coal?
(4) If yes to (3), what is the cap;
and, if no to (3), why not?
LIQUIDATOR
1272. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I refer to my question without
notice 1213 of 12 October 2023, which established that $30.5 million of
taxpayers' money had being paid to the receivers and liquidators of the
insolvent Griffin Coal.
(1) Was a financial
assistance agreement, or new, updated so-called process agreement, entered into
for the additional $3.2 million drawdown?
(2) If yes to
(1), on what date was it executed; who were the signatories; and what
conditions were placed on the additional funding being provided?
(3) Is there a cap on the ongoing flow of taxpayers'
money propping up the insolvent, foreign-owned Griffin Coal?
(4) If yes to (3), what is the cap;
and, if no to (3), why not?
AnswerView source ↗
I thank the Leader of the
Opposition for some notice of the question.
(1) No. The $3.2
million was provided under the existing process agreement, which was executed
on 14 August 2023.
(2) Not applicable.
(3)–(4) The details of the
process agreement are confidential and commercially sensitive.
Opposition for some notice of the question.
(1) No. The $3.2
million was provided under the existing process agreement, which was executed
on 14 August 2023.
(2) Not applicable.
(3)–(4) The details of the
process agreement are confidential and commercially sensitive.
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